Maximizing Profits by Lowering Health Care Costs in an Obamacare Society
Health care costs are a growing concern amongst small and large business owners throughout America. The cost of medicine in the United States is out of control, with the average CT Scan or MRI costing thousands of dollars. Simple and complex treatments, office visits, and procedures are costing employers millions of dollars while decreasing the profitability of their organizations. Because of the rising health care costs, employers are forced to reduce bonuses, reduce spending, and sometimes layoff employees, which increases stress.Employers can manage health care costs in a society that is preparing for major health care renovation by monitoring the eligibility of spouses and dependents, investigating and reporting all claims, switching to different policies, encouraging spousal health insurance, reducing workers compensation payouts, and developing a legal team to handle litigation and settlement issues.Utilizing competitive business strategies that monitor expenses closely can control health insurance costs. In 2007 the average employer paid $12,106 in health care costs, with the employee picking up $3,281 of the bill. Health care costs continue to rise, causing employers financial distress.Conduct Family Eligibility AuditsAn employee’s family is one of the largest health care expenses businesses deal with, as children and spouses become ill over the course of their policy. It is commonplace for businesses to spend millions on an employee’s dependent or spouse. Companies can reduce the amount of money spent on spouses and dependents by actively investigating all non-employee claims.In most policies a dependent is defined as someone under 18 or who is a full time student below a certain age. The new Obamacare insurance reform requires employers to pay for dependents under 26; however, many current policies set the age at 23 or 24.Employers can minimize health care costs by ensuring any person over 18 is a full time non-exempt student. Employers can encourage employees to set their dependents up with school-sponsored insurance, which reduces the employers overall cost. Additionally, employers can alter the policies to remove unrestrictive verbiage from the documents, such as policies that do not require older dependents to be in school. Verification of a dependent’s status can be obtained from leading national clearinghouses and verification services at a fraction of the price of their health plan.There are other health insurance loopholes employers can leverage, such as retiree benefits for dependents as well as dental and vision services. Limit the scope of retiree health plans by removing dependent coverage, only providing medical services to the employee’s spouse. Additionally, consider modifying vision and dental coverage for dependents by limiting it to essential and preventative services.Deductibles and Out of Pocket ExpensesEmployers can significantly reduce the amount of money they spend on an employee’s health insurance plan by utilizing plans with high deductibles, which ensure that their workers are protected in case of major illness or injury. Additionally, deductibles place most of the annual expenses on the employee, with the employer serving as backup in case of life threatening illness, expensive operations, and other expensive procedures, such as CT Scans or MRIs.High deductible plans are ideal for small and large businesses that want to minimize health care costs and risks associated with high premium traditional plans. Employees are made aware of their high deductibles and take a proactive approach to their health, avoiding expensive hospitalizations for otherwise preventable diseases, such as diabetes.When employees are aware of the true cost of health care, their overall demeanor towards a healthy lifestyle improves. They also are more appreciative of the services and benefits their current employer offers.Minimize Health Care Costs by Splitting or Switching PlansEncourage employees to utilize their spouse’s employer paid health insurance package if it is available. The strategy can be marketed as providing them with the maximum coverage, pointing out how their spouses program is a viable alternative. Educate employees on the open enrollment procedure, fostering communication within their family regarding the topic.Employees can save up to $5,000 by switching to their spouse’s insurance, especially if the employee was on a high deductible policy. Another option is to encourage employees to split their dependent’s coverage amongst both of the health plans, minimizing financial risk to your business.It is illegal to demand that employees switch to their spouse’s plan or remove dependents from their policy. Incentive programs are unethical but may drive lower health care costs in your organization. Use this method as a last resort, as some employees may take action against the company. Insurance commissioners frown upon the incentive or spousal switching program, thus it is best to encourage the splitting of spouse and employee coverage.Start a Healthy Living ProgramThe fastest and most efficient way to decrease health care costs is by encouraging your employees and management staff to live a healthy and preventative lifestyle. Preventative care costs far less than other medical procedures, which reduces the out of pocket expenses for both the business and employee. Offer awards or incentive programs for employees who quit smoking, lose weight, stop drinking, or take a proactive approach to their health.Be careful when publicly honoring the employee in front of their coworkers, as some may be nervous or reserved, these are sensitive topics after all. Healthy living programs foster a wholesome lifestyle, in which the employee receives routine checkups and works to reduce preventable conditions, such as obesity and high cholesterol. Healthy lifestyle programs can target diet, weight loss, smoking, alcoholism, aging, and stress. Additionally, healthy employees can participate by continuing to exercise on a routine basis and reducing their stress levels.
Chinese Medicine Doctors – Education and Credentials
Find Chinese medicine doctor programs in the United States and Canada. Chinese medicine doctors offer health and wellness services that are often used as an alternative or complementary medicine. In order to practice in the field, Chinese medicine doctors must have received adequate training and education to fulfill necessary requirements in becoming a professional practitioner. Preferably, qualified Chinese medicine doctors will have graduated from one of several accredited oriental medicine schools, and will have become certified by the National Certification Commission for Acupuncture and Oriental Medicine (NCCAOM) and licensed* in the state where they reside. *(Licensure depends on individual state requirements for practice.)In addition to acupuncture, Chinese medicine doctors will often provide services in physical therapy (Tuina), shiatsu, nutritional advice, Chinese herbology, and other associated practices. Chinese medicine doctors in America must be either licensed or certified, and may be considered a primary care physician if they are licensed as acupuncture physicians. Common titles that are often noted for this profession, include D.O.M. (Doctor of Oriental Medicine), L.Ac.,C.Ac.,R.Ac., or O.M.D.Generally speaking, Chinese medicine doctors, much like that of conventional medicine practitioners, have dedicated a fair amount of time and energy toward educational training in becoming a professional healthcare provider. Chinese medicine doctors will have attained much knowledge and essential skills in TCM theories (Traditional Chinese Medicine) and history. Other comprehensive education and preparation in becoming Chinese medicine doctors will include clinical and practical training in acupuncture points, needling techniques, herbal medicine, moxibustion, Qigong, Tai Chi, pathology, botanical medicine, Western medicine, physiology and anatomy.In addition to ethical and business practices, Chinese medicine doctors are gaining lead way in modern America: for example, did you know that acupuncture (as a complementary medicine) has grown tremendously over the last two decades? According to the National Center for Complementary and Alternative Medicine (NCCAM); an “estimated 8.2 million U.S. adults have used acupuncture.” That’s promising news for prospective Chinese medicine doctors. And for candidates that are working toward becoming Chinese medicine doctors, it is even more promising knowing that there are several Chinese medicine and acupuncture schools from which to choose.If you (or someone you know) are interested in finding programs to become Chinese medicine doctors, let education within fast-growing industries like massage therapy, cosmetology, acupuncture, oriental medicine, Reiki, and others get you started! Explore career school programs [http://school.holisticjunction.com/clickcount.php?id=6634739&goto=http://www.holisticjunction.com/search.cfm] near you.Chinese Medicine Doctors: Education and Credentials© Copyright 2007The CollegeBound NetworkAll Rights ReservedNOTICE: Article(s) may be republished free of charge to relevant websites, as long as Copyright and Author Resource Box are included; and ALL Hyperlinks REMAIN intact and active.
Crypto Currency Vs Fiat Currency
Crypto currency vs. Fiat currency
Are you aware of the fiat currencies and the crypto currencies? They both are currencies in one form or the other and are open for public use across the world. But they are both different and distinct in their own ways. There is always one group that favors the use of cryptos, while the other has a soft corner for the fiat currencies.
In cashless society- crypto money play a huge role
If you have a look at the market of the 1970s and 1980s, you will find that the cash played the dominant role. But, with the change in the technology, electronic transactions have become the usual norm. Today, more and more people are influenced in becoming the cashless society. With the progress towards the cashless society, cryptocurrencies have a big role to play.
Crypto currency and fiat currency are always at loggerheads
Cryptocurrency and fiat currency are popular types of digital currency, especially when it is about an online transaction. They both are currencies currently in use in the market but have some differences in them. There is a hell lot of hypes that you will hear on a daily basis comparing the crypto money and the fiat money. This article will highlight the difference between the two in a more comprehensive and clear manner.
Differentiating in what the currencies stand for
Before going for the difference between the two, you must understand what do they stand for and how are they are defined.
The fiat currency is a legal tender that has the support of the central government, and it operates in the physical form. For instance, US dollars, British Pounds, Euro etc. On the other hand, the crypto currency is a non-legal tender, and doesn’t have any backup from the central government or bank.
Hence, the difference between crypto currency and fiat currency is noted as follows:
• Crypto-currencies are decentralized and global in nature. There are no one entity or government that controls the currency with their laws and regulations. The Fiat currency is centralized, under the control of the laws and regulations of the banks and government.
• Crypto-currencies have their existence only in the digital domain. On the other hand, you will find that the fiat currencies have a tangible and physical existence.
• There is a limited supply of crypto-currencies with a maximum set of them getting supplied in the market. Whereas, the fiat money has an unlimited supply as the government and bank are entitled to produce coins and paper money whenever the situation is required.
• The Bitcoin and other crypto type currencies are created by the computers, while the fiat currencies are issued by the local government and the banks.
• Cryptocurrencies are presented as the public and private code pieces. On the other hand, the fiat currencies are presented in the form of coins and paper money.
• The value of the crypto currencies is not recognized by the supply and demand of the market. Whereas, the fiat currency value is determined by the market regulations of supply and demand.
The different types of crypto and fiat currencies
In the last one decade, the popularity of crypto type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first introduced, and years after several other types of crypto currencies have emerged. Starting from Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there is a plethora of them. On the other hand, the fiat currency has a rich and ancient roots, with the Great British Pound, that dates back to 775 AD. It is considered as the oldest currency in the world that is still in use.
The differences in the anonymity between the two currencies
When you are using the fiat currencies, you need to undergo a user identification or verification process. You are asked to upload a recent picture of yourself and some of the required documents to be issued as per the public authorities. You don’t need to undergo any of the required processes with the crypto currencies. Though your personal information and confidential details don’t get public, but all your transactions are recorded and tracked in both the fiat and the crypto currencies.
Fiat currency vs crypto currency: transparency level
• The transparency level with the crypto type currencies are considered to be more. This is because the revenue streams are displayed in a public chain. Everyone can witness their own and others’ transactions.
• The fiat or govt. currencies are not transparent, as there are not public chains to see the revenue streams of the people.
A comparative historical roots
If you compare the crypto money with that of its counterpart, fiat or government currency, you will find that their existence and creation brings the difference. The Fiat or government currency, dates back its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by the people all over.
On the other hand, the crypto coin was perhaps first introduced only a decade ago, with the introduction of Bitcoin in 2009. The challenge that the Bitcoin and other crypto currencies face is catching up with the immense popularity and increasing fan base of the fiat currency. Crypto currency, is no doubt gaining importance and popularity in the economic market, but it has still not been accepted widely in the society as the fiat currency.
A comparative history of the two currencies:
• It was in the 11th century, when the Chinese Song dynasty was perhaps the first one to issue the paper money. It was not allowed to exchange with valuables like gold and silver or silk.
• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a combat for the shortages in gold.
• 1971, was the year, when the fiat currency received a worldwide recognition. President Nixon introduced it in order to eliminate the dollar pegging system to gold.
• It was in 1998, when the idea of an anonymous electronic cash system emerged by Wei Dai. Bitgold-the very first crypto currency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.
• In 2009, Bitcoin was introduced in the market, that became the first crypto currency that was accepted across the globe. In 2011 and after, a series of several other crypto currencies were introduced. Some of the popular ones include, Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and so on.
The traits of both the currencies
The potential of the crypto type currencies and fiat currencies, accessing their traits is important. You will find that in some of the criteria, Bitcoin and other crypto currency is superior than the fiat or government currency, and in some cases, the latter surpasses. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.
Let us compare their traits with respect to certain factors.
• Both the crypto coins and fiat type currencies are interchangeable in nature.
• As per the portability is concerned both the currencies secure more or less the same position.
• With respect to the non consumable criteria, crypto currency and fiat type currency have the equal status.
• Crypto type currencies have high durability as compared to the fiat-currencies that have moderate level of durability.
• Both the crypto or virtual currencies and the fiat or government currencies ensure secure and safeguarded transactions and exchange.
• Crypto or digital currencies are highly divisible in nature. On the other hand, the fiat type currencies are moderately divisible.
• In terms of the transaction process, the crypto currencies are easy and hassle free. Whereas, on the other hand, the traction process associated with the fiat currencies are easy, but not like the cryptos.
• The crypto based currencies are decentralized and global in nature, unlike the fiat currencies that are centralized and functions under the laws and regulations of the government.
• The crypto based currencies have high scarcity, where as, the fiat currencies are unlimited as the government can issue coins and paper money whenever there is a need.
• The crypto based currencies are based on mathematical algorithms, and are programmable. The fiat currencies are not at all programmable.
• The fiat currencies are sovereign in nature, while the crypto currencies are not.
The process of the functioning of the currencies
You can find the significant differences between the crypto or digital currencies and the fiat currencies with the way they both operate and the transaction process that take place. They are contrasting in nature. The transfer of money using the Bitcoin is very quick, and you absolutely don’t need any third party association.
On the other hand, if you are involved with the money exchange using Fiat type currency, a mobile wallet is in use. You can exchange an amount of e-money that gets transferred into the equal e-value amount. Both the fiat and the crypto currencies enable you to purchase everything that you desire. But the processes involved are absolutely distinct from each other.
Depending on the things you purchase, you will find that one currency form is better than the other. This is absolutely your choice.
Is Bitcoin, a crypto currency better than the fiat-currency?
The long term benefits and the capability of the Bitcoins is still not established. But it has been predicted by the crypto currency gurus and experts, that they will go a long way, especially revolutionizing the way the online transactions are done. In the current market, the Bitcoin is mainly included in the online casinos and the gambling, but it is not limited to it.
Furthermore, when you compare the fiat currencies, the Bitcoin allows you to seize the power and authority from the banks and the government since it is not controlled. The cryptography based currency has the capability to create or come up with the free market capitals. Fiat currencies are affected by the inflation and the changes in the market, unlike the crypto based currencies. Such aspects make individuals believe that cryptograph based currencies will soon take over the mainstream currencies and bring a transformation in the way the money is used.
Why is Bitcoins considered to be a better aspect than the fiat type currencies?
• Bitcoin gives you the opportunity to re-create a free market capitalism.
• The power of controlling the money is absolutely with the individuals, and not with the banks like the fiat type currencies.
• When there is an inflation, the Bitcoin is not affected. But the Fiat type currency will be easier to lose and get affected by it.
• The Bitcoin currency is easy easier to exchange and transfer as compared to the fiat or government currencies.
• The transaction fees involved with the Bitcoin are way cheaper and easily affordable.
Crypto currencies seem to be a favorable option among the people
The fiat type currencies are the centralized and legal way of exchanging money. But, the crypto currencies have acquired immense popularity in the past few years. There will never be anyone who would act as a middle man, like the case with the banks. Moreover, the cryptos are way cheaper and less expensive that the conventional fiat currencies.
Send money anywhere directly without waiting for the bank’s approval
You can send money to anyone in the world directly, and it is super fast. The money gets cleared within a few minutes time. You don’t have to wait for the traditional clearing and verification processes of the banking systems, which might take up to several days to get a clearance. Since it is decentralized and doesn’t come under the law and regulations of the government, nobody has any power to do anything with your account.
The blockchain technology has a very big role to play
Thanks to the crypto currencies, that gives us the power and the authority to become our very own bank, and take control over our finances. It is because of the blockchain technology that offers a higher level of sophistication while dealing with the finances. In fact, there are some mainstream financial industries that have started incorporating the idea of the technology.